Aggregate Real Energy Price Index

Initiative Productivity and Economic Diversification
Type Data Insight
Date 5 September 2023

Belt and Road
Capital expenditure
Circular Carbon Economy (CCE)
CO2 emissions
Consumer behavior
Consumer behaviour
Distributional effects
Econometrics
Economic diversification
Economic growth
Education
Elasticity
Electricity demand
Employment
Energy consumption
Energy Cooperation
Energy demand
Energy efficiency
Energy price reform
Energy prices
Energy subsidies
Energy transition
Environment
Fiscal policy
Forecast
Foreign Direct Investment
fossil fuel economies
Gasoline demand
GCC
Government expenditure
Green growth
Green Jobs
Household behaviour
Inclusive economy
Labour Market
Macroeconomics
Non-oil economy
Oil demand
Oil Trade
Oil-rich countries
Productivity
Projections
Regional analysis
Regional Connectivity
Renewable energy
Residential buildings
Saudi Arabia
Saudi-Chinese Relation
Sectoral analysis
Structural breaks
Supply Chain Integration
Sustainability
Time series models
Training
Vision 2030
Welfare

Abstract

Our aggregate real energy index is constructed in two steps. First, sectoral energy prices are obtained from Hasanov et al (2020). Second, the index is constructed by calculating a weighted average of these sectoral energy prices, in which the weight for each sector is its contribution to gross domestic product (GDP), which is obtained from GASTAT (2022). The index covers 17 sectors, including the energy end-use sectors (e.g., manufacturing and financial services) and the transformation sectors (e.g., power and refining). The index is adjusted for inflation using the consumer price index (CPI), also obtained from GASTAT (2022) rebased to 2010.

Authors

Abdulelah Darandary

Research Lead Abdulelah is a research lead at KAPSARC and an economist with expertise in various fields, including macroeconomics, energy, international trade… Abdulelah is a research lead at KAPSARC and an economist with expertise in various fields, including macroeconomics, energy, international trade and investment flows, financial development and public policy. He is currently leading the application of a behavioral economics project for energy policymaking in Saudi Arabia, utilizing econometric modeling and counterfactual analysis. Abdulelah's publications have been featured in several peer-reviewed journals. In 2020, during the Saudi G20 presidency, he was a member, co-author, and task force coordinator for the Trade, Investment, and Growth Taskforce for Think20 (T20), an official Engagement Group of the G20. Before joining KAPSARC, Abdulelah worked as an economic consultant, providing policy analyses, modeling, and forecasting the impacts of public spending on social and economic indicators. Abdulelah obtained a master's degree in applied economics and a bachelor's degree with honors in banking and financial economics. He received the King Abdullah scholarship and is a member of the Saudi Economic Association and the Saudi Association for Energy Economics.

Expertise

Macroeconomics
Economic Growth
International Trade and Investment
Financial Development
Energy Demand and Public Policy
Econometrics
Energy Transition and its impact on the global economy

Publications See all Abdulelah Darandary’s publications

Commercial Electricity Demand Modeling: Do Regional Differences Matter for Saudi Arabia?

Our aggregate real energy index is constructed in two steps. First, sectoral energy prices are…

26th September 2023

Saudi Arabia’s Input-Output Table: Computing Type I Multiplier

Our aggregate real energy index is constructed in two steps. First, sectoral energy prices are…

5th September 2023

Anwar Gasim

Fellow II Anwar is an energy and environmental economist with an engineering background and over a decade of research and advisory experience… Anwar is an energy and environmental economist with an engineering background and over a decade of research and advisory experience around the areas of energy demand, greenhouse gas emissions, energy price reform, and carbon pricing. He currently leads multiple cross-functional teams on key projects tackling these areas, with a proven track record of publishing high-impact papers, providing consulting services to policymakers, and building the capabilities of talent within the organization. Anwar’s research has been published in leading energy and environmental journals and has been picked up by leading news media. Anwar also has experience transforming organizations, having been a member of task forces responsible for refreshing organizational strategy and building human capital. Anwar is currently wrapping up a Ph.D. from UCL in Sustainable Resources (sub-specialization in Economics). He holds an M.Sc. from KAUST in Electrical Engineering and a B.Eng. from the University of Liverpool in Electronics and Communication Engineering.

Expertise